SwapsInfo Full Year 2023 and the Fourth Quarter of 2023 Review

The latest ISDA SwapsInfo Quarterly Review shows that interest rate derivatives (IRD) traded notional and trade count increased in 2023 compared to the previous year, while index credit derivatives trading activity declined over the same period.

Key highlights for the full year 2023 include:

  • IRD traded notional rose by 11.2% to $324.5 trillion in 2023 from $291.9 trillion in 2022. Trade count increased to 2.5 million from 2.3 million over the same period.
  • Cleared IRD transactions comprised 78.2% of total IRD traded notional and 79.8% of total trade count.
  • IRD transactions traded on swap execution facilities (SEFs) accounted for 54.1% of total IRD traded notional and 68.3% of trade count.
  • Index credit derivatives traded notional dropped by 23.2% to $11.0 trillion in 2023 from $14.4 trillion in 2022. Trade count fell to 339.6 thousand from 398.4 thousand over the same period.
  • Cleared index credit derivatives transactions accounted for 86.4% of total index credit derivatives traded notional and 89.7% of total trade count.
  • SEF-traded index credit derivatives comprised 85.0% of total index credit derivatives traded notional and 88.6% of total trade count.

Click on the attached PDF to read the full report.

Documents (1) for SwapsInfo Full Year 2023 and the Fourth Quarter of 2023 Review

A Positive Step to Improve the FRTB in the EU

As the Basel III capital reforms are finalized for implementation in key jurisdictions, ISDA is maintaining a laser focus on making sure the rules are robust and risk-appropriate. Simply put, if capital requirements are set disproportionately high, this will have...

Appropriate Capital Rules Critical for Markets

“Setting capital requirements for globally active banks is a fine balanc­ing act. As regulators learned during the global financial crisis, insuffi­cient capital creates vulnerabilities in the banking sector that can have damaging consequences in times of stress. However, if banks...